Middle East Economic Survey

VOL. XLVII

No 44

1-November-2004

SUPPLY/DEMAND

Oil Industry Facing Structural Crisis, Says CGES

The oil industry is facing a structural crisis, with capacity shortages throughout the supply chain, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 25 October, CGES says: The oil industry is facing a structural shift of a magnitude not witnessed since the 1970s, as conventional non-OPEC, non-FSU oil production...